In the Budget franchise agreement receipt, what information is required for the signing officer's identification?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Please sign this copy of the receipt, date your signature, and return it to Budget Rent A Car System, Inc., 379 Interpace Parkway, Parsippany, NJ 07054
Transferring Licensee will submit to Budget written notice of its intent to transfer, together with all of the following documents and information for Budget's review, with such documents and information being certified as true, correct and complete by Transferee, its shareholders, members and/or partner(s):
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- The names, addresses and phone numbers (both business and personal) of the Transferee, its shareholders, members and/or partners, and its officers, directors and operational management personnel (hereinafter "management team") related to the Rental Business.
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- Financial statements of the Transferee, its shareholders, members and/or partners for the past three (3) years and an opening balance sheet for the Rental Business.
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- The business experience for the past five (5) years (with particular emphasis on rent-a-car experience) of the Transferee, its shareholders, members and/or partners and its management team.
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- The bankruptcy and litigation history, for the past five (5) years, of the Transferee, its shareholders and/or partners and its management team.
Source: Item 23 — RECEIPTS (FDD pages 80–426)
What This Means (2025 FDD)
Based on the 2025 Budget Franchise Disclosure Document, the receipt for the franchise agreement requires the franchisee to sign and date the receipt, then return it to Budget Rent A Car System, Inc. at their address in Parsippany, NJ.
In the event of a transfer of the license, Budget requires specific information from the Transferee, its shareholders, members, partners, officers, directors, and operational management personnel. This includes their names, addresses, and phone numbers (both business and personal) related to the rental business.
Additionally, Budget requires certified financial statements for the past three years, the business experience for the past five years (particularly in rent-a-car), and the bankruptcy and litigation history for the past five years. This comprehensive collection of information helps Budget assess the suitability and financial stability of potential transferees.